It's not exactly what you're looking for, but try out Quick Settings. You can put a shortcut to it in the notification area, which has the same benefits with just one extra step (and less clutter, really). I'd love to have toggles in the notification area like that, too, though.

@akazabam: Actually, I've been using that for a few days; you're right in that it's not exactly what i'm looking for, nor is it pretty. Thanks for the suggestion.

TouchWiz is definitely improving, but on the other hand, bugs such as not being able to customize a ringtone for google-synced contacts is unacceptable. Also, it would be great to carry that feature over to my N1 (not to mention keeping the feature on the S after flashing CM6).

It's not exactly what you're looking for, but try out Quick Settings. You can put a shortcut to it in the notification area, which has the same benefits with just one extra step (and less clutter, really). I'd love to have toggles in the notification area like that, too, though.

It's only for wifi, but I use Status Toggle which puts a wifi on/off switch in my taskbar. I often times would be in the middle of an app DL from the market or viewing a page on the web, and would realize it was taking too long, or running slowly.

So I'd have to hit home, go over to my power bar widget and turn on wifi, then go back to what I was doing. With this, I can just pull down the status bar and hit wifi on or off while staying in the program I'm using.

It's only for wifi, but I use Status Toggle which puts a wifi on/off switch in my taskbar. I often times would be in the middle of an app DL from the market or viewing a page on the web, and would realize it was taking too long, or running slowly.

So I'd have to hit home, go over to my power bar widget and turn on wifi, then go back to what I was doing. With this, I can just pull down the status bar and hit wifi on or off while staying in the program I'm using.